TD Ameritrade: Black Friday Breaks New Record for Mobile Trading
TD Ameritrade clients increasingly turn to mobile for on-the-go access to the markets.
Retail investors continued a year-over-year trend of record mobile trading on the biggest shopping day of the year. TD Ameritrade Holding Corporation (Nasdaq: AMTD) reports that 31 percent of its retail trades placed on Nov. 23, 2018, were done through a mobile device, a new record high.
TD Ameritrade mobile trading on Black Friday jumped from 28 percent of trades in 2017 to 31 percent in 2018. In 2016, 24 percent of trades on Black Friday were placed on a mobile device.
The top stocks TD Ameritrade clients traded on Black Friday included Apple (AAPL) followed by Amazon (AMZN) – a top Black Friday stock for the fourth year in a row – and Advanced Micro Devices (AMD). Nvidia Corporation (NVDA) and Netflix (NFLX) rounded out the top five traded stocks on Black Friday of this year.
“Black Friday is a day for shoppers and, as such, it’s a time when many investors are on-the-go in malls or with family,” said Steve Quirk, executive vice president of trading and education for TD Ameritrade. “It’s a day that showcases the benefit mobile applications provide by granting seamless access to markets anytime, anywhere.”
The company also saw record-breaking mobile averages for its fiscal year 2018, including:
An average of 197,900 mobile trades per day, up from an average of 111,600 in fiscal 2017;
Twenty-four percent of total trades were placed on a mobile device, compared to 22 percent the prior year;
An average of 1.46 million unique mobile monthly users, up from an average of 799,000 unique mobile monthly users in fiscal 2017.